Taiwan and Vietnam Eye Investment in India's Non-Leather Footwear Industry

Taiwanese and Vietnamese companies are eager to invest in India's non-leather footwear sector, with government support deemed essential. The Council for Leather Exports is projecting significant growth in exports by 2025-26. A trade agreement with the US is anticipated to boost market share while investment promises job creation and enhanced quality production.

Companies from Taiwan and Vietnam are expressing a robust interest in investing in India's burgeoning non-leather footwear sector, with officials citing government backing as a critical component for facilitating these ventures, according to RK Jalan, Chairman of the Council for Leather Exports (CLE).

Jalan emphasized the need for smooth importation of essential goods such as shoe soles and machinery from manufacturing strongholds like China to aid these international firms. The industry's export figures are on an upward trajectory, with a target of USD 7 billion in shipments expected by the 2025-26 period.

Current statistics report exports at USD 5.75 billion in 2024-25, with the US, UK, and Germany as primary destinations. The CLE chairman anticipates an 18% growth rate this year, attributing potential boosts to manufacturing expansion and policy support like trade pacts, particularly with the US.

(With inputs from agencies.)